Cathedral Energy Services Ltd. reports record revenues

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[{"type":"text","content":"\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/ \n\n\n\nCALGARY, Aug. 12, 2014 /CNW/ - Cathedral Energy Services Ltd. (the \"Company\" or \"Cathedral\" / TSX: CET) announces its consolidated financial results for the three and six months ended June 30, 2014 and 2013.  Dollars in 000's except per share amounts. \n\nThis news release contains \"forward-looking statements\" within the meaning of applicable Canadian securities laws.  For a full disclosure of forward-looking statements and the risks to which they are subject, see \"Forward-Looking Statements\" later in this news release. \n\n2014 Q2 KEY TAKEAWAYS \n\n\nRecord revenues for Q2 period; \nU.S. directional drilling achieved all-time record quarterly revenues and Canadian directional drilling and production testing divisions achieved record revenues for Q2; \nExcluding revenues related to International operations which were terminated in early 2014, quarterly revenues increased by 40% and year-to-date revenues increased 32%; \nMarket share gains were realized by Canadian and U.S. directional drilling divisions; \nIncrease in quarterly EBITDAS of 15% and year-to-date EBITDAS increased by 6%; and \n54% increase in year-to-date net earnings. \n2014 Q2 FINANCIAL SUMMARY  \n\n\n\n\n\n\n\n\n\nThree months ended June 30 \n\n\nSix months ended June 30 \n\n\n\n\n2014\n\n\n2013\n\n\n2014\n\n\n2013\n\n\n\nRevenues \n\n\n$\n\n\n56,797\n\n\n$\n\n\n45,639\n\n\n$\n\n\n124,817\n\n\n$\n\n\n99,713\n\n\n\n\n\n\n\n\n\nAdjusted gross margin % (1) \n\n\n19.7%\n\n\n22.0%\n\n\n20.2%\n\n\n23.4%\n\n\n\n\n\n\n\n\n\n\n\n\n\nEBITDAS (1) \n\n\n$\n\n\n6,151\n\n\n$\n\n\n5,342\n\n\n$\n\n\n14,732\n\n\n$\n\n\n13,934\n\n\n\n\nDiluted per share \n\n\n$\n\n\n0.17\n\n\n$\n\n\n0.15\n\n\n$\n\n\n0.41\n\n\n$\n\n\n0.38\n\n\n\n\n\n\n\n\n\nEBITDAS (1) as % of revenues \n\n\n10.8%\n\n\n11.7%\n\n\n11.8%\n\n\n14.0%\n\n\n\n\n\n\n\n\n\n\n\n\n\nFunds from operations (1) \n\n\n$\n\n\n3,767\n\n\n$\n\n\n3,576\n\n\n$\n\n\n11,887\n\n\n$\n\n\n11,083\n\n\n\n\nDiluted per share \n\n\n$\n\n\n0.10\n\n\n$\n\n\n0.10\n\n\n$\n\n\n0.33\n\n\n$\n\n\n0.30\n\n\n\n\n\n\n\n\n\n\n\n\n\nNet earnings (loss) \n\n\n$\n\n\n253\n\n\n$\n\n\n(309)\n\n\n$\n\n\n2,702\n\n\n$\n\n\n1,750\n\n\n\n\nBasic per share \n\n\n$\n\n\n0.01\n\n\n$\n\n\n(0.01)\n\n\n$\n\n\n0.07\n\n\n$\n\n\n0.05\n\n\n\n\nDiluted per share \n\n\n$\n\n\n0.01\...

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